Ethylene Market 2020 Growth, Latest Trend Analysis and Forecast 2026

The global Ethylene Market size is expected to reach USD 186.5 billion by 2026 according to a new study by Polaris Market Research. The report “Ethylene Market Share, Size, Trends, Industry Analysis Report By Feedstock (Naphtha, Ethane, Propane, Butane); By Application (Polyethylene, Ethylene Oxide, Ethyl Benzene, Ethylene Dichloride); By End-Use (Building & Construction, Automotive, Packaging, Textiles, Agriculture & Agrochemicals); By Region, Segment Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Ethylene demand has witnessed robust growth in the recent past and this trend is expected to continue from 2019 to 2026. growth of hospitality construction is expected to benefit the demand for ethylene derived products over the forecast period. However, the ongoing projects and their completion dates are likely to extend due to the recent Corona Pandemic. In the recent past, in order to help the hospitality sector bounce back to normalcy, governments across the globe had intervened in the past and it is expected that they will do the same to help recover the industry post pandemic.

 

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Global ethylene operating rates remained stable during the year 2017 and 2018 and decreased slightly in 2019. This was mostly due to the limited capacity additions as compared to the demand. Project delays, cancellations in post pandemic world order is bound to be a reality which is likely to influence the feed availability, and further tightening of supply.

 

The rate of proposed capacity additions is much higher than the anticipated demand. This is likely to result in decrease of the operating rates and a possibility where the market is flooded with the product. Therefore, as compared to historical operating rates, the estimated operating rates of ethylene plants is bound to be considerably lower.

 

There has been witnessed somewhat dilution of the relation between the market growth linked to the GDP elasticity in the past few years. The relationship has become less straightforward due to the increasing influence of sectors such as service and technology on the GDP as compared to manufacturing. Strong focus on issues such as sustainability and recycling has also affected demand for ethylene for producing various plastic products.

 

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Derivatives demand growth slowed due to the ongoing tensions between two major economies of the globe, namely the U.S. and China. Furthermore, the huge impact of the recent pandemic on the economies of countries across the globe will also contribute to further lower the demand for derivatives.  The feedstock prices witnessed huge volatility in 2019 due to a host of reasons such as sanctions on Iran, attack on Saudi Arabia’s oil complexes, International Maritime Organization (IMO) fuel regulation set to be implemented in 2020, among others.

 

There had been rising preference for MTO and CTO technologies for ethylene production in the past as Naphtha and Ethane prices were considerably high. However, declining oil prices combined with decreasing feedstock prices has prompted manufacturers to move away from these technologies. Environmental scrutiny of these technologies combined with their low effectiveness were also the reasons for this shift.

 

Companies such as ExxonMobil Corporation., Dow Dupont, Royal Dutch Shell plc, Saudi Basic Industries Corporation (SABIC), Total S.A., AkzoNobel, China Petroleum & Chemical Corporation, Huntsman Corporation., LyondellBasell Industries., Clariant are some of the key players operating in the market.

 

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Polaris Market research has segmented the Ethylene Market report on the basis of feedstock, application, end-use and region

Ethylene Feedstock Outlook (Volume, Million Metric Ton, Revenue, USD Billion, 2015 – 2026)

·         Naphtha

·         Ethane

·         Propane

·         Butane

·         Others

Ethylene Application Outlook (Volume, Million Metric Ton, Revenue, USD Billion, 2015 – 2026)

·         Polyethylene

·         Ethylene Oxide

·         Ethyl Benzene

·         Ethylene Dichloride

·         Others

Ethylene End-Use Outlook (Volume, Million Metric Ton, Revenue, USD Billion, 2015 – 2026)

·         Building & Construction

·         Automotive

·         Packaging

·         Textiles

·         Agriculture & Agrochemicals

·         Others